Global Angioplasty Balloons Market Projected To Grow At A CAGR Of 3.65 % By 2028
A new research report published by Fior Markets with the title Angioplasty Balloons Market by Type (Scoring, Cutting, DEBs, Normal), Application (Peripheral, Coronary), End-use (Cath Labs, Hospitals, ASCs), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
The global angioplasty balloons market is expected to grow from USD 2.76 billion in 2020 to USD 3.67 billion by 2028, at a CAGR of 3.65% during the forecast period 2021-2028. North America had the highest share of 25.07% in 2020. There are various factors that contributed to the growth of the market such as a rise in the incidence of angioplasty, transitions in the FDA policies by the United States, and the regional presence of prominent manufacturers in the North American region.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the angioplasty balloons market are Johnson & Johnson, Medtronic PLC, Becton, Dickinson and Company, Cook Medical, Inc., Boston Scientific Corporation, Abbott Laboratories, ENDOCOR GmbH and Cardinal Health.
The type segment includes scoring, cutting, DEBs and normal. The normal angioplasty balloons segment had the highest share of 27.33% in 2020. The factors that contributed to the growth of the market are convenient reimbursement plans, encouraging administrative guidelines and approval methods, as well as inexpensive devices. The application segment includes peripheral and coronary. The coronary segment had the highest share of 1.45 billion in 2020. The primary factor that contributed to the market was a rise in the number of coronary artery diseases. The end-use segment includes cath labs, hospitals and ASCs. The hospital segment is expected to show the highest share over the forecast period. Public and private hospitals that have cath labs are hugely impacting the growth of the market.
The driving factors for the growth of the market are technological innovations and advancements as well as an increase in the demand for balloon angioplasty as it is a minimally invasive method for the operation. The rise in the number of coronary and peripheral artery disorders increases the probability of stroke, cardiovascular death, and myocardial infarction. Such diseases are anticipated to propel the growth of the market over the forecast years. A rise in the worldwide base of the target population is also encouraging the growth of the market. Moreover, an increase in the utilization of technologically advanced products like cutting and drug-eluting angioplasty balloons in emerging nations is expected to boost the growth of the market. Also, successful runs of balloon angioplasty are higher as compared to the conventional angioplasty methods. It is also likely to propel the market.
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- CDN Newswire